* CRM Live = hosted Microsoft Dynamics CRM. Microsoft will show off a live demo of CRM Live at the Convergence conference on March 15 during CEO Steve Ballmer's keynote address

* ERP Live = still to be determined, but looking more like add-on services than hosted ERP. There's a chance it could mean both, if and when Microsoft gives partners the green light to offer one or more of its ERP suites as hosted products